Group 1: Economic Trends and Developments - The exhibition economy is experiencing a surge in May, with major cities in China adopting a "industry + exhibition" dual-driven model to stimulate innovative development [1] - This model promotes a virtuous cycle of "exhibition-driven production" and "production-led exhibition," continuously releasing multiplier effects and injecting new momentum into high-quality economic development [1] Group 2: Upcoming Exhibitions - The 11th Beijing International Printing Technology Exhibition (CHINA PRINT 2025) will take place from May 15 to 19, covering over 180,000 square meters with more than 1,300 exhibitors showcasing the latest equipment and technologies across the entire printing industry chain [2] - The 13th China Command and Control Conference and the 10th China (Beijing) Military Intelligent Technology Equipment Expo will be held from May 15 to 17, featuring over 500 exhibitors and an exhibition area of 50,000 square meters [3] - The 4th Yangtze River Delta International Emergency Disaster Reduction and Rescue Expo will occur from May 13 to 15, with around 500 exhibitors and an expected attendance of over 100,000 professional visitors [4] - The 17th China International Battery Technology Exhibition (CIBF2025) will be held from May 15 to 17 in Shenzhen, covering 300,000 square meters and attracting over 3,000 exhibitors and 400,000 professional visitors [5] - The 29th CBE China Beauty Expo will take place from May 12 to 14 in Shanghai, with an exhibition area of 230,000 square meters and participation from over 3,200 exhibitors from more than 40 countries [6] - The 2025 Changsha International Construction Machinery Exhibition will be held from May 15 to 18, featuring 1,650 exhibitors and an exhibition area of 300,000 square meters, including 35 of the world's top 50 construction machinery companies [7] - The 2025 Xiamen Industrial Expo will occur from May 9 to 12, with a total exhibition area of approximately 76,000 square meters and participation from over 800 domestic and international companies [8]

Group 1: Digital Cultural Consumption Trends - The cultural consumption market in Beijing is thriving during the "May Day" holiday, with new cultural performances and digital consumption experiences attracting consumers [1][6] - A newly launched VR cinema in the 798 Art District has drawn many young consumers, offering immersive experiences through advanced technology [1][3] Group 2: VR Experience and Engagement - The VR immersive exhibition features stunning visual arts and surround sound, providing consumers with a refreshing experience [3] - Visitors can engage in a 30-minute underwater adventure with a VR headset, exploring various themes across five exhibition halls [4] Group 3: Visitor Engagement and Economic Impact - The 798 Art District experienced a significant increase in visitor numbers during the holiday, with an average of approximately 60,000 visitors per day [6] - The "May Day" holiday saw the introduction of first-time stores and exhibitions, contributing to a surge in consumer activity [6] Group 4: Cultural Exhibitions and Experiences - The "Like Dunhuang" exhibition in Beijing features a 1:1 replica of the Mogao Caves, providing a unique cultural experience without traveling to Gansu [8][10] - The exhibition includes intricate designs and original sculptures from the Tang Dynasty, creating an immersive cultural visual feast for visitors [8][10] Group 5: Visitor Statistics and Future Plans - The "Like Dunhuang" exhibition attracted over 10,000 visitors in just five days during the holiday, with plans for the exhibition to continue until October [11]

Core Viewpoint - The company experienced a significant decline in revenue and profit in 2024, primarily due to a reduction in completed projects, but showed signs of recovery in Q1 2025 with increased revenue and profit [2][5][6]. Financial Performance - In 2024, the company's revenue dropped by 41.44% to 1.376 billion yuan, and the net profit attributable to shareholders was a loss of 135 million yuan, a decrease of 147.97% [5]. - The first quarter of 2025 saw a revenue increase of 29.81% to 382 million yuan, with a net profit of 40.27 million yuan, marking a turnaround with a growth of 368.25% [6]. Business Segments - Revenue from urban digital experience space decreased by 46.83% to 449 million yuan, while cultural and brand digital experience space revenue fell by 37.40% to 873 million yuan, and digital products and services revenue declined by 51.12% to 54.79 million yuan [5]. - The gross margin for urban digital experience space and cultural and brand digital experience space decreased by 11.89% and 2.49%, respectively, while the gross margin for digital products and services increased by 14.29% [5]. Strategic Initiatives - The company is focusing on the "cultural + technology + consumption" integration strategy to expand into new cultural tourism consumption scenarios [2]. - A "Embodied Intelligence Research Institute" was established, and a strategic partnership was formed with Songyan Power to enhance the integration of artificial intelligence and digital scenarios [3][7]. Technological Development - The company aims to leverage embodied intelligence technology to enhance the smart upgrade of exhibition displays and cultural tourism experiences [8]. - Plans include developing innovative products such as smart guide robots and emotional interactive virtual characters for cultural tourism consumption scenarios [8][9]. Challenges and Outlook - High accounts receivable, amounting to 1.392 billion yuan at the end of 2024, poses financial risks, potentially affecting cash flow and strategic investments [6][10]. - The commercialization of embodied intelligence projects is expected to take 2 to 5 years, with significant R&D investment required and uncertain market acceptance [9][10].